BTC is currently trading around $96,500 and ETH around $2,700. Notable gainers in the last 24 hours are IP, JTO, and ENA. The global crypto market cap is $3.30T, down 1.6% over the last day. DeFi Total Value Locked is ~$111b and BTC dominance is around 61%.
Crypto markets are mixed following a large $1.46b hack of crypto exchange Bybit. Bybit CEO Ben Zhou has stated the exchange is solvent and should be able to cover the loss. Equity markets are mixed, though the US is leading to the downside after an unexpectedly large decline in consumer sentiment.
Notable news includes: The SEC approved yield-bearing stablecoin YLDS issued by Figure Markets; the European Central Bank announced it is developing a blockchain-based payment system to allow financial institutions to settle transactions in central bank money; Coinbase reached an agreement with the SEC to dismiss their litigation against the exchange, pending approval by the commission; KuCoin’s European subsidiary began the process of obtaining a MiCA license in Austria; Societe Generale’s crypto subsidiary FORGE launched its MiCA-compliant EUR-backed stablecoin EURCV on Stellar; the Ethereum Foundation launched an open-source intents framework to improve interoperability across L2s; OpenSea regained its leading position in NFT marketplace volume following the announcement of its long-awaited token SEA; tokenization platform Centrifuge named a new CEO; and Helium Mobile expanded network coverage in Mexico via a partnership with Movistar, the country’s second largest carrier service.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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